Operator
The company that drills and runs the wells on a lease — handling permits, production, and royalty payments to mineral owners.
The operator is the company that actually drills and runs the wells. It holds the working interest (or the largest share of it), pulls the permits, manages the rig and production, and cuts the royalty checks to mineral owners. When you see a name on a drilling permit or a division order, that is usually the operator.
Operators register their wells with the state — the Texas Railroad Commission, the Oklahoma Corporation Commission, the New Mexico Oil Conservation Division, and so on — so their permits and production are public record. A well-capitalized, active operator is more likely to drill undeveloped locations and keep production steady.
The operator's track record matters to a mineral buyer. A diligent operator in the same basin pays on time and develops acreage. Knowing who operates a tract is a standard step in how to buy mineral rights.